Zhi Tong Cai Jing·2026-01-02 07:35Core Viewpoint - The report from Credit Lyonnais indicates that Macau's gaming revenue in December increased by 14.8% year-on-year to MOP 20.89 billion, aligning with the bank's forecast but falling short of market expectations by 3% [1] Group 1: December Gaming Revenue - Macau's gaming revenue for December reached MOP 20.89 billion, reflecting a year-on-year growth of 14.8% [1] - The average daily gaming revenue for the last ten days of December was MOP 624 million, compared to MOP 698 million for the first 21 days of the month [1] Group 2: January Forecast - For January, Credit Lyonnais projects a year-on-year increase in Macau's gaming revenue of 18% to MOP 21.48 billion, which is 3% higher than market forecasts [1] Group 3: Long-term Outlook - The bank anticipates that Macau's total gaming revenue will grow by 5% year-on-year by 2026, slightly below the market expectation of 5.5%, indicating an average daily gaming revenue of MOP 709 million [1] - The continued appreciation of the Renminbi against the US dollar is expected to support gaming revenue performance [1] Group 4: Preferred Stocks - Credit Lyonnais maintains its preference for Galaxy Entertainment (00027) and MGM China (02282) as top stock picks in the sector [1]